Ariba, Inc. (Nasdaq: ARBA) today announced that it has signed a definitive agreement to acquire Procuri Inc. a privately-held provider of on-demand supply management solutions. With the acquisition, Ariba extends its position as the leading provider of spend management solutions to companies of all sizes and accelerates its traction in the rapidly growing mid-market.
Under […]

It was a flat day on the Dubai Financial Market (DFM), where the exchange advanced just 1.4 points to close on 4,232.5 points. The National Cement Company was the biggest gainer advancing 4.7% to reach Dhs10.1. The Abu Dhabi Securities Market (ADSM) advanced by 1% to end the day on 3,557.7 points, while, in Saudi Arabia, the Tadawul All Share Index (Tasi) retreated by 0.5% to finish on 7,833.4 points. [AMEInfo.com]

Singer and Hamilton, a European executive search and consulting firm, has commenced operations at the Dubai International Financial Centre (DIFC). Established in Paris in 1989, Singer and Hamilton specialises in recruitment in the capital markets, corporate finance, asset management, wealth management, private equity, real estate and insurance sectors. [AMEInfo.com]

Private sector salaries in the GCC increased at an average rate of 9% over the past year, according to figures released by GulfTalent.com. Oman saw the biggest increases with an average pay rise of 11%, while the UAE and Qatar weren’t far behind with private sector employees receiving hikes of 10.7% and 10.6% respectively. Saudi Arabia came last with average pay increases of 7.7% - up from 6.5% last year. [AMEInfo.com]

FreeAdLists.com has recently added some newer capabilities to their website. First, the site’s search capability has been greatly expanded. Now, a user can search the entire website as opposed to only searching through a selected category. Secondly, a scrolling text box, or marquee, has been added to increase the visibility of “Featured Ads.” This […]

The HSBC is to establish a brokerage company that will trade on the Abu Dhabi Securities Market and the Dubai Financial Market. The company, to be called HSBC Middle East Securities, will offer UAE domestic market brokerage services to both institutional and retail investors. The company is expected to begin trading for institutions by the end of 2007 and to offer retail brokerage services in 2008. [AMEInfo.com]

Private equity firm Gulf Capital has acquired, along with its co-investors, a 50% shareholding in Gulf Marine Services (GMS), a UAE based jack-up barge and support vessel operator. The deal now gives Gulf Capital and its consortium 100% ownership of GMS. Other co-investors in the transaction include Al Bateen Investments, Horizon Energy and Maritime Industrial Services. [AMEInfo.com]

The UN is to delay voting for tougher economic sanctions against Iran until the EU’s foreign policy chief Javier Solana has held talks with Iran’s national security chief, Ali Larijani, and the International Atomic Energy Agency has carried out a review of the country’s nuclear programme, reported the Los Angeles Times. The US and France had sought immediate action but China and Russia wanted to wait until discussions had taken place. [AMEInfo.com]

Abu Dhabi’s First Gulf Bank has launched its wealth management services called First Wealth. The new service will offer high net worth individuals, both expatriate and local, a selection of around 3,600 investment and insurance products across asset classes. Relationship managers will oversee the management of investment portfolios. [AMEInfo.com]

Market analysts in India have warned that the ongoing frenetic upward movement of the benchmark Sensex index, which soared from 16,000 points to an all-time high of more than 17,000 in just five trading sessions, is becoming increasingly susceptible to profit-booking and a consolidation. Overseas investment has been driving the gains since the US Federal Reserve cut interest rates earlier this month, making emerging markets more attractive. [AMEInfo.com]